Horizon Technology Finance Co. (NASDAQ:HRZN) Plans $0.11 Monthly Dividend

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a monthly dividend on Friday, February 28th, NASDAQ Dividends reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.11 per share by the investment management company on Tuesday, April 15th. This represents a $1.32 annualized dividend and a yield of 14.35%. The ex-dividend date is Monday, March 17th.

Horizon Technology Finance has increased its dividend by an average of 3.2% annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 109.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Trading Up 1.3 %

HRZN opened at $9.20 on Friday. The company has a market cap of $370.90 million, a P/E ratio of -76.67 and a beta of 1.18. Horizon Technology Finance has a 12 month low of $8.46 and a 12 month high of $12.63. The business’s 50-day moving average price is $9.41 and its 200-day moving average price is $9.74.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, March 4th. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The company had revenue of $23.55 million during the quarter, compared to analysts’ expectations of $25.69 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. Equities research analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price target for the company in a report on Tuesday, December 17th. Keefe, Bruyette & Woods reduced their price target on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Friday, March 7th. Maxim Group reduced their target price on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, StockNews.com lowered shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.75.

Insider Activity

In related news, Director Michael Balkin acquired 20,000 shares of the stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at $170,600. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.34% of the company’s stock.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.